FedNat looks to Universal for new chief operating officer

US insurer FedNat Holding Company has hired Universal's Patrick McCahill as chief operating officer (COO).

In his newly-created position reporting to FedNat’s chief executive Michael Braun, McCahill will have primary oversight of operations including underwriting, claims and information technology.

McCahill most recently served as president of American Platinum Property and Casualty Insurance Company, a wholly-owned subsidiary of Universal Insurance Holdings. In that role, he was responsible for all operations and corporate strategy including product line and geographic expansion.

McCahill began his career at Universal with Blue Atlantic Reinsurance Corporation. Previously, he was a reinsurance broker at TigerRisk Partners, working on Florida property accounts, focusing on the placement of several large catastrophe reinsurance programmes.

Braun said: “We are excited to welcome Patrick to the FedNat management team. FedNat has grown substantially over the past several years as we pursue our strategy of expanding profitably in homeowners markets outside of Florida. We look forward to utilizing Patrick’s broad industry experience across property insurance and reinsurance, and his management and leadership qualities, to drive increased efficiency in our operations and continue creating long-term value for our shareholders.”